Deutsche Bank AG Purchases New Shares in Boise Cascade, L.L.C. $BCC

Deutsche Bank AG acquired a new position in Boise Cascade, L.L.C. (NYSE:BCCFree Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 37,619 shares of the construction company’s stock, valued at approximately $2,920,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BCC. Wellington Management Group LLP grew its position in shares of Boise Cascade by 19.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,268,407 shares of the construction company’s stock worth $252,713,000 after buying an additional 539,962 shares during the period. Dimensional Fund Advisors LP boosted its stake in Boise Cascade by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,325,781 shares of the construction company’s stock worth $176,410,000 after acquiring an additional 46,561 shares in the last quarter. State Street Corp boosted its stake in Boise Cascade by 0.3% during the fourth quarter. State Street Corp now owns 1,472,071 shares of the construction company’s stock worth $108,344,000 after acquiring an additional 3,817 shares in the last quarter. Norges Bank purchased a new stake in Boise Cascade in the fourth quarter worth about $42,146,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Boise Cascade by 12.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 507,108 shares of the construction company’s stock valued at $37,323,000 after purchasing an additional 54,279 shares in the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

Insider Buying and Selling

In other Boise Cascade news, Director Kristopher J. Matula sold 1,930 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $84.58, for a total transaction of $163,239.40. Following the completion of the sale, the director directly owned 13,982 shares in the company, valued at approximately $1,182,597.56. The trade was a 12.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.42% of the company’s stock.

Boise Cascade Stock Down 1.5%

BCC stock opened at $79.83 on Thursday. The stock has a market capitalization of $2.79 billion, a P/E ratio of 27.06, a P/E/G ratio of 1.09 and a beta of 1.10. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.71 and a quick ratio of 1.31. Boise Cascade, L.L.C. has a 1-year low of $65.00 and a 1-year high of $91.97. The business has a fifty day moving average price of $78.72 and a 200-day moving average price of $76.80.

Boise Cascade (NYSE:BCCGet Free Report) last issued its earnings results on Monday, August 3rd. The construction company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.40. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.77 billion. Boise Cascade had a return on equity of 5.41% and a net margin of 1.64%.Boise Cascade’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 EPS. Equities analysts forecast that Boise Cascade, L.L.C. will post 3.86 earnings per share for the current fiscal year.

Boise Cascade Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Tuesday, September 1st will be issued a $0.23 dividend. This is an increase from Boise Cascade’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, September 1st. Boise Cascade’s dividend payout ratio is 29.83%.

Wall Street Analyst Weigh In

BCC has been the topic of a number of analyst reports. Truist Financial set a $97.00 price target on Boise Cascade in a research report on Wednesday, May 6th. DA Davidson lifted their price objective on Boise Cascade from $92.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Wall Street Zen raised Boise Cascade from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Zacks Research cut Boise Cascade from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Finally, The Goldman Sachs Group raised their price target on Boise Cascade from $81.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $93.60.

Get Our Latest Stock Analysis on BCC

Boise Cascade Profile

(Free Report)

Boise Cascade Company operates as a leading manufacturer and distributor of wood products and building materials in North America. The company’s operations are organized into two primary segments: wood products manufacturing and building materials distribution. In its manufacturing segment, Boise Cascade produces a wide array of engineered wood products, including plywood, oriented strand board (OSB), lumber, particleboard and laminated veneer lumber (LVL), serving residential, commercial and industrial customers.

In its distribution segment, Boise Cascade sources and delivers building materials through an extensive network of distribution centers, servicing professional builders, remodelers, contractors and industrial customers.

Further Reading

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Institutional Ownership by Quarter for Boise Cascade (NYSE:BCC)

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